Skip to content

China, US agree to slash tariffs in 90-day trade deal

China and the U.S. have reached an agreement to significantly reduce tariffs on each other’s goods for a 90-day period, marking a step toward de-escalating their trade war. Starting May 14, the U.S. will cut tariffs on Chinese goods from 145% to 30%, while China will reduce its levies on U.S. imports from 125% to 10%. The two nations also agreed to establish a dialogue mechanism for ongoing trade talks, co-led by senior officials including Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent. The news boosted global investor sentiment, sending markets higher.

Get more news based on your interests